Date: October 1, 2020 Contact: firstname.lastname@example.org Boston – The owner of a now-defunct Peabody construction company was arrested yesterday in connection with a scheme to defraud the IRS of approximately $1 million in payroll taxes and to defraud his workers' compensation insurance carrier by failing to disclose how many workers he employed, announced and Joleen Simpson, Acting Special Agent in Charge of the Internal Revenue Service's Criminal Investigation in Boston. Argyrios "Eric" Mavros, was indicted on 10 counts of failure to collect or pay over taxes and one count of mail fraud. Mavros was released on conditions following an initial appearance in federal court in Boston. According to the charging documents, Mavros, who owned Mavros Construction, Inc., cashed more than $3.3 million in customer checks at a Peabody check cashing business and used some of those funds to pay his employees in cash. Mavros failed to report these employees or their wages in quarterly corporate tax filings, in an effort to avoid paying Social Security and Medicare taxes on employee wages and withholding federal income taxes. Overall, Mavros failed to pay and withhold federal taxes on more than $2.5 million in wages, resulting in a tax loss of just over $1 million. Additionally, Mavros failed to report these employees to his workers' compensation insurance carrier, thereby defrauding his insurer of premiums. The charge of failure to collect and pay over taxes provides for a sentence of up to five years in prison, three years of supervised release and a fine of $10,000. The charge of mail fraud provides for a sentence of up to 20 years in prison, three years of supervised release and a fine of $250,000 or twice the gross gain or loss, whichever is greater. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and other statutory factors. Assistant U.S. Attorney Kristen A. Kearney of Lelling's Securities, Financial & Cyber Fraud Unit is prosecuting the case. The details contained in the indictment are allegations. The defendant is presumed innocent unless and until proven guilty beyond a reasonable doubt in a court of law.